Inventory records for Sherwin Williams Paints revealed the following:

Purchases : Sales:

May 1 1,000 gallons @ $8.10 = $8,100

May 5 400 gallons

May 10 600 gallons @ $8.25 = $4,950

May 14 700 gallons

May 16 800 gallons @ $8.30 = $6,640

May 20 500 gallons

Total2,400 gallons $19,690 Sold = 1,600 gallons

* Calculate cost of goods sold and ending inventory using LIFO with the perpetual method.